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Nifty 50 Index forum
only for risky players... others stay away...
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Did you remember the weekly resistance line? It didn’t break again this week. If it drops below support now, a long put might make sense.
NIFTY
BANKNIFTY
Did you remember the weekly resistance line? It didn’t break again this week. If it drops below support now, a long put might make sense.


However, there are a series of support(s) - a combo of .236 S + T.line(2) + static support is powerful & crucial.
I personally believe that there will be considerable profit booking [in the view the downtrend still exists].
My view of bearishness extends until 23,363 (.146 E) ~ 23,166 (.5S).
The time frame for a correction is always uncertain - be it small or big - we have to be on safer side - hence the past reco, to surpass 08 May expiry!

What yours 💭
tradingview.com/x/CcTVaUf8
NIFTY
BANKNIFTY
tradingview.com/x/CcTVaUf8

RIP option sellers
For today expiry, spot price of 24,175 will be crucial to watch (30mins more).
